AMERICAN PUBLIC EDUCATION INCAPEIEarnings & Financial Report
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
Revenue
$152.9M
Gross Profit
$76.7M
Operating Profit
$2.2M
Net Profit
$371.0K
Gross Margin
50.2%
Operating Margin
1.5%
Net Margin
0.2%
YoY Growth
3.9%
EPS
$-0.06
Financial Flow
AMERICAN PUBLIC EDUCATION INC Q2 2024 Financial Summary
AMERICAN PUBLIC EDUCATION INC reported revenue of $152.9M (up 3.9% YoY) for Q2 2024, with a net profit of $371.0K (up 100.7% YoY) (0.2% margin). Cost of goods sold was $76.2M, operating expenses totaled $74.5M.
Key Financial Metrics
| Total Revenue | $152.9M |
|---|---|
| Net Profit | $371.0K |
| Gross Margin | 50.2% |
| Operating Margin | 1.5% |
| Report Period | Q2 2024 |
Revenue Breakdown
AMERICAN PUBLIC EDUCATION INC Q2 2024 revenue of $152.9M breaks down across 4 segments, led by American Public Education Inc Segment at $77.0M (50.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| American Public Education Inc Segment | $77.0M | 50.4% |
| Rasmussen University Segment | $53.0M | 34.7% |
| Hondros College Of Nursing Segment | $16.4M | 10.7% |
| Textbook And Other Course Materials | $7.8M | 5.1% |
AMERICAN PUBLIC EDUCATION INC Revenue by Segment — Quarterly Trend
AMERICAN PUBLIC EDUCATION INC revenue by segment across the last 4 reported quarters, showing how each business line (such as American Public Education Inc Segment and Rasmussen University Segment) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| American Public Education Inc Segment | $71.0M | $83.1M | $81.7M | $83.9M |
| Rasmussen University Segment | $66.6M | $60.8M | $59.5M | $59.3M |
| Hondros College Of Nursing Segment | $20.7M | $18.4M | $18.1M | $17.7M |
AMERICAN PUBLIC EDUCATION INC Annual Revenue by Year
AMERICAN PUBLIC EDUCATION INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $648.9M).
| Year | Annual Revenue |
|---|---|
| 2025 | $648.9M |
| 2024 | $624.6M |
| 2023 | $600.5M |
| 2022 | $606.3M |
AMERICAN PUBLIC EDUCATION INC Quarterly Revenue & Net Profit History
AMERICAN PUBLIC EDUCATION INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $158.3M | -3.5% | $12.6M | 8.0% |
| Q3 2025 | $163.2M | +6.6% | $5.6M | 3.4% |
| Q2 2025 | $162.8M | +6.5% | $4.5M | 2.8% |
| Q1 2025 | $164.6M | +6.6% | $8.9M | 5.4% |
| Q4 2024 | $164.1M | +7.4% | $13.0M | 7.9% |
| Q3 2024 | $153.1M | +1.5% | $2.3M | 1.5% |
| Q2 2024 | $152.9M | +3.9% | $371.0K | 0.2% |
| Q1 2024 | $154.4M | +3.2% | $516.0K | 0.3% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $154.4M | $152.9M | $153.1M | $164.1M | $164.6M | $162.8M | $163.2M | $158.3M |
| YoY Growth | 3.2% | 3.9% | 1.5% | 7.4% | 6.6% | 6.5% | 6.6% | -3.5% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $559.0M | $560.7M | $569.6M | $570.1M | $578.7M | $537.4M | $525.3M | $521.4M |
| Liabilities | $270.5M | $272.0M | $279.2M | $266.2M | $268.6M | $265.1M | $246.0M | $226.6M |
| Equity | $288.5M | $288.7M | $290.4M | $303.9M | $310.0M | $272.2M | $279.3M | $294.8M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $20.7M | $12.5M | $14.1M | $1.6M | $37.0M | $14.8M | $21.7M | $-11.6M |